Match Group bought Korean social media company Hyperconnect for $1.73 billion last year. The company also owns older dating websites including OkCupid and PlentyOfFish. In Match Group’s case, that’s most notably for Tinder and Hinge, both of which it owns. Legacy companies, like the dating behemoth Match Group, are simultaneously working to incorporate audio, video and more engaging ways to interact into their dating apps.
“You’re seeing this next wave coming up that’s saying, ‘What are the new mediums people want to see in dating?’” Kaplan said. Now, dating apps are coming up in different formats. Tinder and Bumble were the first truly mobile-first dating platforms to rise to popularity.
Kaplan previously spent about a decade at the dating website PlentyOfFish. Typically, every 10 years or so, there’s a new wave of dating platforms that emerge and try to unseat the incumbents, according to Kim Kaplan, CEO of video dating app Snack. There are a few reasons that VCs are investing in dating apps that embrace new formats.įirst, it’s been about a decade since dating apps like Tinder and Hinge were founded. The vast majority of companies raised angel, pre-seed and seed rounds (only three were of a different stage–Series A), meaning VC interest in the dating sector last year was focused on the earliest-stage companies.Īmong the companies to raise money are audio-based dating apps, video-based dating apps, and meme-based dating apps (yes, really). Freelance Writers: How To Pitch Crunchbase NewsĪccording to Crunchbase data, there were 43 funding rounds to VC-backed companies in the dating space last year, totaling more than $31 million.Something Ventured: Startup and VC Diversity.
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